Rhode Island Pension Outperforms 98% of Public Funds Over Past Quarter and Year

Published on Thursday, May 19, 2022

Rhode Island General Treasurer Seth Magaziner today announced that the Rhode Island Pension Fund outperformed 98% of public pension plans over the last year and during the first quarter of 2022, continuing the consistent outperformance the Rhode Island plan has achieved under Treasurer Magaziner’s ‘Back to Basics’ Investment Plan.   

According to the InvMetrics Public DB Database, which tracks the performance of 591 public pension plans, Rhode Island’s performance as of March 31, 2022 was ahead of 98% of the funds in the database for the first quarter of 2022, the fiscal year to date, as well as the trailing 12-month period.  

“My mission as Treasurer is to support economic opportunity and financial stability in Rhode Island by strengthening the pension fund that thousands of Rhode Islanders and their families rely on for retirement security,” said Rhode Island General Treasurer Seth Magaziner. “Under our ‘Back-to-Basics' Investment strategy, the pension fund’s investment performance has been historically strong, and the plan has reached new all-time highs while consistently outperforming our peers.”  

Over the twelve months ending March 31, the Rhode Island pension plan achieved a return of 12.2%, significantly ahead of the median public pension plan return of 4.9% as well as a traditional 60% stock / 40% bond portfolio return of 2.7%.  

During the fiscal year to date, the Plan achieved a return of 5.0% compared to the median public pension plan return of -0.6% and a 60% stock / 40% bond portfolio return of -2.3%.   

Rhode Island has achieved strong performance relative to other pension funds since Treasurer Magaziner launched the ‘Back to Basics’ investment strategy in 2017. According to InvMetrics, Rhode Island has outperformed most public pension funds in three of the last four full fiscal years.  

Additional information about the Rhode Island pension system, including the ‘Back to Basics’ investment strategy and performance, can be found online as part of Treasurer Magaziner's “Transparent Treasury” initiative at investments.treasury.ri.gov.  

All performance is reported on a “net of fees” basis.